GERMAN BANKER TO RESIGN

Bundesbank president Karl Otto Poehl confirmed Thursday he would resign this year, four years before his second term as head of the German central bank is due to expire.

In a statement issued before a news conference in Frankfurt, Poehl said he planned to leave at the end of October for personal reasons. His departure should not be seen as a sign of frustration, he added.Poehl, 61, had dominated German financial affairs since 1980 with firm monetary policies aimed at holding down inflation and maintaining the strength of the mark.